The Pahiatua Herald PUBLISHED EVERY EVENING. THURSDAY, JULY 9, 1925. SHIPPING TROUBLE.

Pahiatua Herald, Volume XXXIII, Issue 9979, 9 July 1925, Page 4

The Pahiatua Herald PUBLISHED EVERY EVENING. THURSDAY, JULY 9, 1925. SHIPPING TROUBLE.

The outlook in regard to the Australian shipping trouble now appears much brighter and there is hope that a satisfactory settlement will be reached. The vital article of the agreement provides that the Transport Group will bring pressure to, bear on any union which flouts the agreement, persists in preventing the sailing of ships, or attempts “job control.” If necessary, an offending union which persists in its tactics will be isolated from the Transport Group, which has also undertaken not to oppose any emergency measures for running the ships in the event of union obstruction in defiance of the agreement. The Shipping Board on its side has undertaken to maintain the conditions of ;m----ployment existing prior to the cancellation of the seamen’s award. Australia does not possess a monopoly of these disputes, for there are frequent hold-dps and annoyances on the New Zealand waterfront. MONEY MARKET. Sir James Parr expresses the hope that the credit of New Zealand will always remain sufficiently high to enable the Government to secure at Home all the funds it needs. It would be. unwise, however, to ignore the hint, especially as it seems to have official inspiration, that the British money market has been exhausted for the time being. Some of the dominions have already experienced disappointments that can only be ascribed to a real lack of money at Home for investment in colonial securities. They cannot, therefore, safely disregard the suggestion that they should in the meantime look elsewhere for the funds they require. Their needs are fairly heavy. In addition to any fresh borrowings that may be sanctioned the Government of this dominion will have in the next two years to provide nearly twenty millions for the redemption of maturing debentures, most of which are fortunately held in New Zealand itself.